Retirement often gives the impression that retired partners have no interest in remaining involved with the firm or legal industry; however, simply asking them if they are interested in staying connected, can prove to be a useful source for the firm's future success. Ida O. Abbott discussed how retired partners can continue to be a resource for your law firm in a recent article for Attorney at Work.
As a result of being involved, these retired partners are able to promote your firm in various ways, here’s how:
1. Maintaining a strong referral source
Many retirees are still very active in their organizations and boards, and even maintain friendships with former clients so they may feel inclined to refer others to your firm.
2. Talent referral source
Senior lawyers are often involved with teaching and mentorship and may be able to direct young talent to your firm.
3. Sharing Wisdom
Partners who have retired may be interested in serving as a mentor to new partners and young lawyers. Their extensive knowledge in both the industry and business can be an asset when your firm is making business decisions and growing your law firm.
See more specific examples of how law firms use retired partners in Abbott's article here.
